Hexagon Capital Partners LLC Raises Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Hexagon Capital Partners LLC lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 128.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 364 shares of the real estate investment trust’s stock after buying an additional 205 shares during the period. Hexagon Capital Partners LLC’s holdings in PennyMac Financial Services were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $36,000. Exchange Traded Concepts LLC bought a new stake in PennyMac Financial Services during the third quarter worth $57,000. Saxon Interests Inc. purchased a new position in PennyMac Financial Services in the fourth quarter worth $208,000. Foster & Motley Inc. bought a new position in PennyMac Financial Services in the 4th quarter valued at $234,000. Finally, Contravisory Investment Management Inc. bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth $252,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PFSI shares. Wedbush restated an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Barclays raised their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods decreased their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average price target of $97.75.

Insider Transactions at PennyMac Financial Services

In related news, insider James Follette sold 2,617 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Doug Jones sold 17,079 shares of PennyMac Financial Services stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.10, for a total value of $1,470,501.90. Following the transaction, the director now owns 23,892 shares in the company, valued at $2,057,101.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James Follette sold 2,617 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now owns 7,257 shares in the company, valued at $625,843.68. The disclosure for this sale can be found here. In the last three months, insiders sold 87,802 shares of company stock worth $7,666,108. 16.60% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Stock Up 3.4 %

Shares of NYSE PFSI opened at $90.94 on Friday. The business has a 50-day moving average of $87.86 and a 200-day moving average of $83.75. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 0.57 and a beta of 1.68. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 2.33. PennyMac Financial Services, Inc. has a 12 month low of $56.16 and a 12 month high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The firm had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s payout ratio is currently 27.78%.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.